CPA & Business Advisory Blog

Ohio Income Tax Reform Legislation Regarding Municipal Income Taxes

Ohio House Bill 5, which would establish uniform municipal income tax rules, was introduced on January 30, 2013.  A similar bill was introduced last October but failed to pass the House before the last legislative session ended in December.

Ohio is one of a handful states where municipalities assess individual and business income tax and the only state where almost 600 cities and villages create their own definitions of income and their own sets of rules and regulations.

Ohio’s current municipal system is complex and costs of compliance to businesses can be significant.  A simpler compliance system is needed.  H.B. 5 establishes a uniform municipal income tax system with one set of rules and regulations for business and individual income taxes.  It also creates a standard municipal income tax form and establishes a uniform method for how employers file employee withholding payments.

Have questions about how Ohio House Bill 5 would affect your business? Contact our Tax Planning & Preparation Group at 440-449-6800.



This entry was posted in CPA & Business Advisory, Tax Planning & Preparation. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed.
© Copyright 2017 Skoda Minotti | Privacy Policy | Disclaimer | Remote Support
Cleveland 440-449-6800 | Akron 330-668-1100 | Tampa 813-288-8826
Website designed and developed by Skoda Minotti Strategic Marketing